Enbridge (TSE:ENB) Downgraded by Cibc World Mkts to "Hold"

Key Points

• CIBC World Markets has downgraded Enbridge from a "strong-buy" to a "hold" rating, reflecting a shift in analyst sentiment for the company.
• Despite the downgrade, Enbridge's stock price target has been raised by various analysts, with the consensus price target now sitting at C$67.53.
• As of Thursday, Enbridge's shares were down 1.7%, opening at C$67.32, amidst various ratings from different analysts, ranging from "strong-buy" to "hold".

Enbridge (TSE:ENB - Get Free Report) NYSE: ENB was downgraded by research analysts at Cibc World Mkts from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

ENB has been the subject of a number of other reports. ATB Capital raised their target price on Enbridge from C$66.00 to C$67.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Argus upgraded Enbridge to a "strong-buy" rating in a research note on Tuesday, August 12th. Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating and increased their target price for the company from C$65.00 to C$72.00 in a research report on Wednesday, July 23rd. Barclays boosted their price objective on Enbridge from C$65.00 to C$68.00 and gave the company an "equal weight" rating in a research note on Monday. Finally, National Bankshares increased their target price on shares of Enbridge from C$64.00 to C$65.00 and gave the stock a "sector perform" rating in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$67.53.

Enbridge Stock Down 1.7%

Shares of TSE ENB opened at C$67.32 on Thursday. The firm has a market cap of C$146.79 billion, a price-to-earnings ratio of 23.70, a price-to-earnings-growth ratio of 1.72 and a beta of 0.89. The company's 50-day simple moving average is C$66.95 and its 200-day simple moving average is C$63.98. Enbridge has a 52-week low of C$55.53 and a 52-week high of C$70.39. The company has a quick ratio of 0.44, a current ratio of 0.62 and a debt-to-equity ratio of 144.86.

About Enbridge

Enbridge owns extensive midstream assets that transport hydrocarbons across the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada's largest natural gas distribution company.

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